Section 96-A. Servicing of mortgages by banks  


Latest version.
  • 1. Every bank shall, subject
      to the restrictions and limitations contained in this article, have  the
      power  to service mortgages, and the superintendent shall have the power
      to prescribe, by specific or general regulation, the  extent  to  which,
      and the conditions upon which, mortgages may be serviced.
        2.  No  bank  shall,  by  virtue  of  the provisions contained in this
      section,  be  deemed  to  have  the  powers  defined  and  described  in
      subdivision two of section one hundred of this article.
        3.  The  grant of powers to banks by or pursuant to this section shall
      not be deemed to limit or  restrict  any  other  banking  organizations,
      heretofore  or  hereafter  organized,  in  the  exercise of their lawful
      powers.